I just discovered on the 14th of July that my UBA Right Issue was allocated to the wrong CHN instead of mine. I sent email to Info@PacRegistrars, they replied the acknowledgement of my complaint and assured me of them taking necessary corrections. I provided them, the incorrect CHN, my correct CHN and my phone number.
After zero reply from them in 8 days, I wrote to them again, ever since then, they haven’t give me an feedback.
Oh, I understand the frustration you must be feeling with the mix-up of your UBA Right Issue allocation. Let's break down what you can do in this situation using simple terms that even Mama Ngozi would understand:Simple Explanation:A Right Issue is when a company offers existing shareholders the chaRead more
Oh, I understand the frustration you must be feeling with the mix-up of your UBA Right Issue allocation. Let’s break down what you can do in this situation using simple terms that even Mama Ngozi would understand:
Simple Explanation:
A Right Issue is when a company offers existing shareholders the chance to buy more shares at a discounted price to raise more money.
How It Works:
When you participate in a Right Issue, you need to provide your Correct Holder Number (CHN) to ensure the shares are allocated to you correctly.
Benefits:
– You get to buy more shares at a lower price than the market value.
– It’s a way for the company to raise funds for growth.
Risks:
– If there are errors in allocation, like in your case, it can cause delays and frustrations.
Real-life Nigerian Example:
It’s like if Mama Ngozi ordered a basket of tomatoes from a supplier but they delivered it to the wrong market stall instead of hers. It would be frustrating for her, just like your situation.
Common Mistakes:
– Not double-checking the information provided for the allocation process.
– Not following up promptly if there are issues.
Practical Steps to Get Started:
1. Continue following up with the registrar via email and phone calls.
2. Consider reaching out to UBA directly to escalate the issue if the registrar is not responding.
Short Summary:
A Right Issue is a way for companies to raise money by offering existing shareholders the option to buy more shares. Make sure to provide accurate information to avoid allocation errors.
Now, what steps will you take next to ensure your UBA Right Issue gets resolved satisfactorily?
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